Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Increased by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,293 shares of the transportation company’s stock after purchasing an additional 3,614 shares during the period. Kinsale Capital Group Inc.’s holdings in Old Dominion Freight Line were worth $4,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 0.6% during the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 54 shares during the period. Conning Inc. increased its stake in Old Dominion Freight Line by 5.8% during the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after buying an additional 64 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Old Dominion Freight Line by 4.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after buying an additional 66 shares in the last quarter. Quent Capital LLC lifted its stake in shares of Old Dominion Freight Line by 5.5% in the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after acquiring an additional 67 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ODFL has been the topic of several recent analyst reports. TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Raymond James boosted their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. BMO Capital Markets dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $215.57 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $46.02 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The business has a fifty day simple moving average of $201.32 and a 200-day simple moving average of $191.30.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.